HashWhale BTC Mining Weekly Report | Miners' Earnings Face Challenges (2.10-2.16)
According to YCharts data, the total daily revenue of miners dropped to $43.52 million on February 10, a decline of 10.48% from the previous day and a year-on-year decrease of 7.3%. The profit margins for miners have been squeezed due to increased mining difficulty and rising energy costs. In addition, the average transaction confirmation time on the Bitcoin network has reached 19 minutes, setting a new historical high, mainly influenced by network congestion, block size limitations, and fluctuations in transaction fees.